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Exam 15: Customer Relationship Management

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Question 81

Multiple Choice

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The type of customer communication that provides the customer with information concerning the completeness of the order, when it will ship from the firm, and when it will arrive to the customer is called ________ communication.

A) dispatch
B) product fulfillment
C) order authorization
D) delivery status
E) order status

F) B) and C)
G) All of the above

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Question 82

Multiple Choice

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Lifetime value measures the extent to which a company puts effort into servicing its customers' needs, based on an understanding of each customer's profitability.

A) Research suggests that it takes more money to keep a current customer than to acquire a new one.
B) Only large companies that deal with many customers need to worry about good customer service.
C) Customers are getting used to poor customer service and it doesn't bother them that much.
D) Good customer service is not necessary for B₂B transactions.
E) Good customer service alone doesn't necessarily make customers happy.

F) B) and C)
G) None of the above

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Question 83

Multiple Choice

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Maintaining and enhancing good customer relationships begins with a company culture that

According to your text, what should companies do to guard against a breach of security in their CRM systems?

The ________ ________ is a marketing strategy that reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs and wants.

Ideally, firms would like the order cycle time to be ________. (short/long)

The process that involves the computerized search for meaningful trends in a large amount of data is known as

Companies can assess if they are doing a good job servicing their customers by establishing performance measurements, also known as

A company that personalizes service by tailoring product information for individual customers in order to provide an exceptional, personalized shopping experience is practicing

The performance measurement that calculates the percentage of an order shipped on time and complete is called the

The ratio that compares the financial investments a company puts into gaining and keeping customers to the financial return on those investments is referred to as

Collaborative ________ is a mechanism that filters large amounts of information about many consumers' previous purchases that may be related in some way in order to predict consumer preferences.

How can organizations improve customer relationships?